The quantity of one good that is given up to produce another is defined to be its
a. market value
b. opportunity cost
c. relative cost
d. absolute cost
e. nominal cost
B
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Pamela Michelle Scott, a low income single mom, had just finished her monthly shopping to purchase 30 days' worth of meat from Hollins Market
She's reared five healthy children and said that she made good use of the free health clinics and food stamps. Pamela benefits from free health clinics which are ________ and food stamps which is a ________. A) Social Security programs; subsidized service B) unemployment compensation programs; Social Security program C) subsidized services; welfare program D) welfare programs; unemployment compensation program
Which of the following is an example of a positive statement?
A) Since this good is bad for you, you should not consume it. B) If this good is bad for you, you should not consume it. C) If you consume this good, you will get sick. D) None of the above.